Carlsberg (CBGC) Ratios
Carlsberg Ratios
DE:CBGC's free cash flow for Q2 2026 was $4.08B. For the 2026 fiscal year, DE:CBGC's free cash flow was decreased by $-3.64B and operating cash flow was $7.72B. See a summary of the company’s cash flow.
| Ratios | Dec 25 | Dec 24 | Dec 23 | Dec 22 | Dec 21 |
|---|---|---|---|---|---|
| Liquidity Ratios | |||||
| Current Ratio | 0.60 | 0.57 | 0.64 | 0.70 | 0.53 |
| Quick Ratio | 0.46 | 0.44 | 0.52 | 0.59 | 0.41 |
| Cash Ratio | 0.20 | 0.25 | 0.28 | 0.17 | 0.19 |
| Solvency Ratio | 0.09 | 0.16 | -0.43 | 0.03 | 0.14 |
| Operating Cash Flow Ratio | 0.26 | 0.04 | 0.25 | 0.27 | 0.31 |
| Short-Term Operating Cash Flow Coverage | 1.47 | 0.17 | 1.47 | 2.40 | 2.29 |
| Net Current Asset Value | $ -94.02B | $ -56.37B | $ -55.88B | $ -46.37B | $ -54.54B |
| Leverage Ratios | |||||
| Debt-to-Assets Ratio | 0.46 | 0.34 | 0.35 | 0.25 | 0.23 |
| Debt-to-Equity Ratio | 2.54 | 1.37 | 1.68 | 0.90 | 0.64 |
| Debt-to-Capital Ratio | 0.72 | 0.58 | 0.63 | 0.47 | 0.39 |
| Long-Term Debt-to-Capital Ratio | 0.68 | 0.48 | 0.56 | 0.40 | 0.32 |
| Financial Leverage Ratio | 5.54 | 4.08 | 4.81 | 3.62 | 2.78 |
| Debt Service Coverage Ratio | 1.33 | 1.18 | 1.46 | 2.00 | 1.81 |
| Interest Coverage Ratio | 4.15 | 7.92 | 9.96 | 16.43 | 15.66 |
| Debt to Market Cap | 0.61 | 0.40 | 0.32 | 0.21 | 0.17 |
| Interest Debt Per Share | 111.47 | 59.69 | 58.94 | 41.97 | 41.11 |
| Net Debt to EBITDA | 3.51 | 1.68 | 1.71 | 1.47 | 1.49 |
| Profitability Margins | |||||
| Gross Profit Margin | 45.16% | 45.83% | 44.62% | 45.64% | 47.54% |
| EBIT Margin | 13.43% | 15.23% | 14.87% | 14.81% | 16.02% |
| EBITDA Margin | 19.52% | 21.06% | 20.41% | 19.87% | 22.96% |
| Operating Profit Margin | 14.16% | 15.21% | 15.09% | 16.32% | 16.85% |
| Pretax Profit Margin | 10.16% | 13.31% | 13.36% | 14.18% | 17.38% |
| Net Profit Margin | 6.68% | 12.15% | -55.43% | -1.51% | 11.39% |
| Continuous Operations Profit Margin | 7.53% | 10.67% | 10.83% | 11.65% | 13.80% |
| Net Income Per EBT | 65.80% | 91.28% | -414.93% | -10.67% | 65.53% |
| EBT Per EBIT | 71.76% | 87.52% | 88.52% | 86.84% | 103.14% |
| Return on Assets (ROA) | 3.87% | 8.04% | -36.47% | -0.92% | 5.42% |
| Return on Equity (ROE) | 21.42% | 32.83% | -175.55% | -3.33% | 15.05% |
| Return on Capital Employed (ROCE) | 11.97% | 16.96% | 17.19% | 17.22% | 12.19% |
| Return on Invested Capital (ROIC) | 8.58% | 11.72% | 12.35% | 13.02% | 9.01% |
| Return on Tangible Assets | 8.42% | 14.96% | -65.02% | -1.61% | 11.82% |
| Earnings Yield | 5.41% | 10.01% | -35.37% | -0.83% | 4.19% |
| Efficiency Ratios | |||||
| Receivables Turnover | 7.10 | 10.42 | 9.71 | 13.87 | 10.52 |
| Payables Turnover | 1.82 | 1.74 | 1.84 | 1.74 | 1.71 |
| Inventory Turnover | 6.87 | 6.83 | 7.01 | 6.68 | 6.55 |
| Fixed Asset Turnover | 2.72 | 2.77 | 3.02 | 2.97 | 2.26 |
| Asset Turnover | 0.58 | 0.66 | 0.66 | 0.61 | 0.48 |
| Working Capital Turnover Ratio | -4.57 | -4.08 | -4.67 | -4.05 | -4.05 |
| Cash Conversion Cycle | -96.23 | -120.96 | -108.83 | -128.47 | -122.98 |
| Days of Sales Outstanding | 51.43 | 35.03 | 37.59 | 26.32 | 34.68 |
| Days of Inventory Outstanding | 53.11 | 53.48 | 52.05 | 54.64 | 55.73 |
| Days of Payables Outstanding | 200.77 | 209.46 | 198.46 | 209.43 | 213.39 |
| Operating Cycle | 104.54 | 88.50 | 89.63 | 80.96 | 90.41 |
| Cash Flow Ratios | |||||
| Operating Cash Flow Per Share | 18.98 | 2.65 | 17.01 | 18.52 | 18.43 |
| Free Cash Flow Per Share | 11.81 | 1.55 | 10.79 | 12.77 | 12.57 |
| Dividend Paid and CapEx Coverage Ratio | 1.54 | 1.40 | 1.46 | 1.75 | 1.79 |
| Capital Expenditure Coverage Ratio | 2.65 | 2.41 | 2.74 | 3.22 | 3.14 |
| Operating Cash Flow Coverage Ratio | 0.18 | 0.05 | 0.30 | 0.45 | 0.46 |
| Operating Cash Flow to Sales Ratio | 0.14 | 0.02 | 0.16 | 0.18 | 0.22 |
| Free Cash Flow Yield | 7.09% | 1.13% | 6.39% | 6.93% | 5.54% |
| Valuation Ratios | |||||
| Price-to-Earnings (P/E) Ratio | 19.23 | 9.99 | -2.83 | -121.19 | 23.85 |
| Price-to-Sales (P/S) Ratio | 1.24 | 1.21 | 1.57 | 1.83 | 2.72 |
| Price-to-Book (P/B) Ratio | 3.96 | 3.28 | 4.96 | 4.04 | 3.59 |
| Price-to-Free Cash Flow (P/FCF) Ratio | 14.10 | 88.79 | 15.66 | 14.42 | 18.06 |
| Price-to-Operating Cash Flow Ratio | 8.78 | 51.89 | 9.94 | 9.95 | 12.31 |
| Price-to-Earnings Growth (PEG) Ratio | -1.19 | -0.09 | -0.00 | 1.05 | 1.56 |
| Enterprise Value Multiple | 9.84 | 7.45 | 9.39 | 10.69 | 13.32 |
| Enterprise Value | 171.14B | 117.68B | 141.04B | 149.31B | 183.83B |
| EV to EBITDA | 9.84 | 7.45 | 9.39 | 10.69 | 13.32 |
| EV to Sales | 1.92 | 1.57 | 1.92 | 2.12 | 3.06 |
| EV to Free Cash Flow | 21.92 | 114.71 | 19.15 | 16.72 | 20.34 |
| EV to Operating Cash Flow | 13.64 | 67.04 | 12.15 | 11.53 | 13.86 |
| Tangible Book Value Per Share | -79.53 | -32.84 | -34.22 | -20.74 | -27.42 |
| Shareholders’ Equity Per Share | 42.07 | 41.88 | 34.05 | 45.63 | 63.26 |
| Tax and Other Ratios | |||||
| Effective Tax Rate | 0.22 | 0.20 | 0.19 | 0.18 | 0.21 |
| Revenue Per Share | 134.82 | 113.12 | 107.84 | 100.50 | 83.56 |
| Net Income Per Share | 9.01 | 13.75 | -59.78 | -1.52 | 9.52 |
| Tax Burden | 0.66 | 0.91 | -4.15 | -0.11 | 0.66 |
| Interest Burden | 0.76 | 0.87 | 0.90 | 0.96 | 1.09 |
| Research & Development to Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| SG&A to Revenue | 0.32 | 0.31 | 0.06 | 0.06 | 0.07 |
| Stock-Based Compensation to Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Income Quality | 2.19 | 1.76 | 1.05 | 1.13 | 1.22 |
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